Question

3] Demand for cosmetics is_____
a) relatively elastic
b) relatively inelastic
c) perfectly elastic
d) perfectly inelastic​

Answer 1

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Answer 2

Relatively elastic

Elasticity can be characterized as a proportion of variable aversion to the adjustment of another variable. This awareness is the adjustment of value, which is connected with a change in different elements. From a business and financial perspective, it is a proportion of how touchy a monetary element is to another. According to the versatility of interest definition, the interest contracts or stretches out with rising or fall in the costs. The change awareness might be little or less in the flexibility of interest.